Shaped changing object in the sky at sunrise over Peterborough, Ontario

After a night of halloween fun my friend and I decided to go watch the sun come up. we walked to a small area with benches by the river at the intersection of Water st. and Edinborough. Looking south east of there towards armour hill I notices a long verticle | shape in the sky and mentioned to my friend that it looked odd. He said that it was probably 'the morning star' and then we located that in the sky and with cloud passing by we noticed it had gone up higher into the sky. We really started to notice that it was moving upwards slowly and then it changed to a star type looking shaped and then took off and dissapeared into a pin hole of light and was just gone. We sat there wondering what we had just seen and really are not sure, but it really confused us.